SunTrust Banks, Inc. Reiterates Hold Rating for Netflix, Inc. (NFLX)
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reaffirmed by equities researchers at SunTrust Banks, Inc. in a report issued on Thursday. They currently have a $175.00 target price on the Internet television network’s stock. SunTrust Banks, Inc.’s target price would suggest a potential downside of 0.80% from the stock’s previous close.
Other research analysts also recently issued reports about the company. UBS AG reaffirmed a “buy” rating and set a $175.00 price target on shares of Netflix in a report on Monday, May 15th. BMO Capital Markets reaffirmed a “market perform” rating and set a $180.00 price target (up from $150.00) on shares of Netflix in a report on Tuesday, July 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a report on Tuesday, July 18th. Bank of America Corporation reaffirmed a “buy” rating and set a $199.00 price target (up from $184.00) on shares of Netflix in a report on Tuesday, July 18th. Finally, Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $165.09 price target on the stock in a report on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $178.23.
Shares of Netflix (NFLX) opened at 176.42 on Thursday. Netflix has a 12 month low of $93.26 and a 12 month high of $191.50. The stock has a market capitalization of $76.17 billion, a price-to-earnings ratio of 214.62 and a beta of 1.05. The stock’s 50 day moving average price is $175.71 and its 200 day moving average price is $157.73.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. Analysts expect that Netflix will post $1.19 EPS for the current year.
In other news, CEO Reed Hastings sold 115,577 shares of Netflix stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $152.63, for a total value of $17,640,517.51. Following the transaction, the chief executive officer now directly owns 115,577 shares in the company, valued at approximately $17,640,517.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total value of $156,620.00. Following the completion of the transaction, the director now owns 8,012 shares in the company, valued at $1,254,839.44. The disclosure for this sale can be found here. Insiders sold a total of 349,435 shares of company stock worth $59,221,491 over the last quarter. Company insiders own 4.90% of the company’s stock.
Several large investors have recently made changes to their positions in NFLX. Alps Advisors Inc. acquired a new stake in shares of Netflix in the 2nd quarter worth $262,000. Guardian Life Insurance Co. of America boosted its position in shares of Netflix by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock worth $245,000 after purchasing an additional 11 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Netflix by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock worth $192,231,000 after purchasing an additional 25,266 shares in the last quarter. Banco Santander S.A. acquired a new stake in shares of Netflix in the 1st quarter worth $43,264,000. Finally, Calamos Advisors LLC boosted its position in shares of Netflix by 198.5% in the 2nd quarter. Calamos Advisors LLC now owns 208,945 shares of the Internet television network’s stock worth $31,218,000 after purchasing an additional 138,945 shares in the last quarter. Institutional investors and hedge funds own 81.05% of the company’s stock.
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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